The law firm of Oakes & Fosher is presently investigating the alleged misconduct of securities broker Gregory Voigt. According to his publicly available FINRA BrokerCheck report, Gregory Voigt has been the subject of a customer dispute in his career.
Gregory Voigt is a Rhode Island-based securities broker. He has worked in the securities industry for thirty years. During his career, he has been registered with just two different securities firms.
- Merrill Lynch (1988-2016)
- UBS Financial Services (2016-Present)
In July 2017, customers alleged that Gregory Voigt recommended unsuitable investments, excessively traded their account, and made material misrepresentations. This case was settled for $300,000 in damages.
What Does This Mean?
Excessive trading, or churning, is a deceptive trading practice instituted by securities brokers like Gregory Voigt. It centers around the securities broker trading a customer’s account excessively even if it has no financial benefit to the investor. The reason they do it then is because it generates additional commissions for each trade they execute. Despite its fraudulent nature, many securities brokers continue to engage in this practice.
Oakes & Fosher Can Help
Many investors are unaware of the legal recourse available to them after losing money due to securities broker fraud and/or negligence. The truth is that investors who have lost money in this fashion may actually be entitled to damages. Oakes & Fosher dedicates its entire legal practice to helping investors across the nation. If you, or someone you know, have lost money investing with Gregory Voigt, please contact Oakes & Fosher for a free and private consultation. Oakes & Fosher handles cases on a contingency basis, which means there are no fees charged unless we collect for you.